Effective immediately, Paytm users can now use the Paytm mobile wallet app to make their Visa credit card bill payment across banks anywhere, anytime and with their preferred method of payment.
And according to Paytm’s blog post, the company aims to process more than 2 million credit card bill payments this financial year.
Part of the steps being taken to meet this goal includes the integration of BHIM UPI (the National Payments Corporation of India’s proprietary mobile app based on the United Payments Interface) into the Paytm suite of payment options for Visa bill payments.
“With Visa credit card bill payments now enabled on Paytm, it effectively marks the complete digital transformation of the credit card ecosystem,” said Visa Head of Business Development Murali Nair via Business Today. “From issuance to purchases and now bill payment, the Visa credit card is now truly a preferred digital payment tool for India’s mobile-first generation.”
And this initiative comes on the heels of the recent announcement that Berkshire Hathaway secured a $365 million dollar stake in Paytm parent company One97 – lending further credibility to India’s already booming digital economy.
Options for Visa bill payment via Paytm include net banking, debit cards and UPI.